So far, a total of two potential candidates have agreed to take seats in airBaltic Council, said Minister of Transport Kaspars Briškens in an interview to “Spried ar Delfi” programme on Thursday, the 6th of February.
He mentioned that he looks at the two potential council members as “doers”, not “letter writers” or “complainers”.
When asked if all the council members have been selected by now, he said yes, while adding that not in full. “Negotiations are still ongoing, but the Ministry of Transport will be able to offer a strong composition of the new board next week,” said Briškens, adding that formal confirmation of consent to work on the board of the airline has so far been received from two people.
When asked if these people come from the ministry’s ranks, the minister said all of them are external professionals who meet the ministry’s requirements for necessary competence in aviation and financial literacy.
The minister mentioned that the ministry also wanted international specialists to be represented in the council, so at least one of the candidates is not from Latvia. “We have reached out to several people. One of the people who responded with confirmation is not from Latvia,” added Briškens.
“The Ministry of Transport, as a shareholder, wants the asymmetry of knowledge between the board and the council to be not so great, because there should be people at the table who can speak the same language, at the same level of understanding, as well as to understand at what point the council should take a tougher position or need some adjustments to the course taken.” added the minister.
LETA previously reported that on the 20th of January the Latvian government agreed to terminate the existing airBaltic Council until the 11th of February. The council consisted of chairman Klāvs Vasks, and council members Kaspars Ozoliņš and Andris Liepiņš.
The Secretary of State to the Ministry of Transport Andulis Židkovs explained to LETA previously that there is another regulation in force regarding the council member and minority shareholder of the company Lars Thuesen – the shareholder agreement. “He [Thuesen] retains his seat on the council regardless of the persons nominated by the state. He is guaranteed this seat as a current shareholder,” he added.
Židkovs also pointed out that the council of airBaltic in the current situation needed other competencies, such as technical competence, as well as the competence of the international aviation sector and the financial market.
It is also reported that on the 29th of January, an agreement was reached between The Ministry of Transport, airBaltic and Lufthansa Group, which provides investments in the amount of EUR 14 million in airBaltic. In exchange for the investment, Lufthansa Group will receive a convertible share, which will give it a 10% stake, as well as a seat on the board of airBaltic to the investor.
airBaltic carried a total of 5.2 million passengers in 2024, up 13% from the year before, and 47 000 flights, up 7% from the year before.
The audited turnover of airBaltic in 2023 was EUR 664.289 million, which is an increase of 33.2% compared to 2022, as well as the company made a profit of EUR 33.852 million as opposed to losses a year earlier.
Latvian state owns 97.97% of shares in airBaltic. Aircraft Leasing 1, which is owned by financial investor, Danish businessman Lars Thuesen, owns 2.03% of shares.